LD Capital's Trend Research Holds 64.25% of NEIRO Tokens, Driving 600% Price Surge

Blockchain analysis platform EmberCN has revealed that Trend Research, a part of LD Capital, holds a significant portion of the memecoin NEIRO. Specifically, Trend Research controls 173,000 Ethereum (ETH) and 64.25% of the total supply of NEIRO tokens, which is valued at approximately $55.69 million. EmberCN identified 13 different wallet addresses linked to Trend Research, all of which contained NEIRO tokens. These wallets, which hold 64.25% of the total supply, made large withdrawals of NEIRO from exchanges between March 24 and May 30. During this period, the price of NEIRO increased by approximately six times, from $0.0165 to $0.1155. EmberCN suggested that this price increase was largely due to the buying activity of these addresses.

Excluding exchange, market maker, and pool addresses among the top 21 NEIRO owner addresses, it was determined that all the remaining major owners belonged to these 13 wallets. This revelation has sparked significant concern within the cryptocurrency community, as it raises questions about the decentralization and security of NEIRO. The concentration of supply in the hands of one entity can lead to market manipulation and instability, as the entity holding the majority of the supply can influence the price and liquidity of the memecoin.

LD Capital founder JackYi addressed the situation, stating, “I bought with real money on the secondary market, I didn’t sell. At that time, memecoins were popular, I wanted to buy when the market value was low. I patiently hope to become one of the leaders of the ETH ecosystem. I bought more and naturally became one of the main owners. In my opinion, buying with real money on the secondary market is not an unethical behavior. This project has been around for a long time.”

This revelation highlights the importance of decentralization and transparency in the cryptocurrency ecosystem. Investors should be cautious when investing in memecoins and should conduct thorough due diligence to ensure that the memecoin they are investing in is decentralized and transparent. The concentration of supply in the hands of one entity can lead to market manipulation and instability, and investors should be aware of the potential risks associated with investing in memecoins.